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The Role of Short Rates and Foreign Long Rates in the Determination of Long-Term Interest Rates

Fell, J.P.C. - European Central Bank - 1996

This study examines the changing relationship between domestic long-term , domestic short-term and foreign long-term interest rates.

Persistent link: https://www.econbiz.de/10005641235

Global inflation

Ciccarelli, Matteo; Mojon, Benoît - European Central Bank - 2005

This paper shows that inflation in industrialized countries is largely a global phenomenon. First, inflations of (22 … associated to Global Inflation is not only due to the trend components of inflation (up from 1960 to 1980 and down thereafter …) but also to fluctuations at business cycle frequencies. Second, Global Inflation is, consistently with standard models of …

Persistent link: https://www.econbiz.de/10005816183

Empirical assessment of Monetary Policy Instruments and Procedures (MPIP) in EU Countries.

Escriva, J.L.; Fagan, F.P. - European Central Bank - 1996

This paper provides empirical evidence on the use of monetary policy instruments and procedures (MPIP) in EU countries. In particular, it focuses on three important issues which arise in this context. Fist, we examine the structural position of the EU money markets. Second , evidence is...

Persistent link: https://www.econbiz.de/10005641237

Acquisition versus greenfield: the impact of the mode of foreign bank entry on information and bank lending rates

Claeys, Sophie; Hainz, Christa - European Central Bank - 2006

Policy makers often decide to liberalize foreign bank entry but at the same time restrict the mode of entry. We study how different entry modes affect the interest rate for loans in a model in which domestic banks possess private information about their incumbent clients but foreign banks have...

Persistent link: https://www.econbiz.de/10005222403

The disappearing tax base: is foreign direct investment eroding corporate income taxes?

Gropp, Reint; Kostial, Kristina - European Central Bank - 2000

This paper analyzes the link between Foreign Direct Investment (FDI), corporate taxation, and corporate tax revenues. We find strong evidence that FDI in (out) flows are affected by tax regimes in the host (home) countries and FDI flows in turn affect the corporate tax base. Simulations of EU...

Persistent link: https://www.econbiz.de/10005816177

The reception of public signals in financial marketswhat if central bank communication becomes stale?

Ehrmann, Michael; Sondermann, David - European Central Bank - 2009

-term interest rates to the Bank of England’s inflation report andto macroeconomic announcements. Due to the quarterly frequency at …, the more timehas elapsed since the latest release of an inflation report, market volatility shouldincrease, the price …

Persistent link: https://www.econbiz.de/10005866483

The dynamic effects of shocks to wages and prices in the United States and the euro area

Duarte, Rita; Marques, Carlos Robalo - European Central Bank - 2009

a special focus on persistence of real wages,wage and price inflation. The analysis is conducted within a structural …, as well as the cointegrating properties of theestimated system. Overall, in the long run, wage and price inflation emerge …

Persistent link: https://www.econbiz.de/10005866514

External shocks and international inflation linkages: a global VAR analysis

Galesi, Alessandro; Lombardi, Marco J. - European Central Bank - 2009

food price shocks on a given set of countries.Secondly, we assess the importance of inflation linkages among countries, by …

Persistent link: https://www.econbiz.de/10005866521

National prices and wage setting in a currency union

Sánchez, Marcelo - European Central Bank - 2009

Existing work on wage bargaining (as exemplified by Cukierman and Lippi, 2001) typicallypredicts more aggressive wage setting under monetary union. This insight has not beenconfirmed by the EMU experience, which has been characterised by wage moderation,thereby eliciting criticism from Posen and...

Persistent link: https://www.econbiz.de/10005866574

Inflation dynamics with labour market matching: assessing alternative specifications

Christoffel, Kai; Costain, James S.; De Walque, Gregory; … - European Central Bank - 2009

This paper reviews recent approaches to modeling the labour market and assessestheir implications for ination dynamics through both their e¤ect on marginalcost and on price-setting behaviour. In a search and matching environment, weconsider the following modeling setups: right-to-manage...

Persistent link: https://www.econbiz.de/10005866597